Japan blue-chip stocks nose higher ahead of holiday; Sharp loses ground

Japanese stocks gurggled just a little higher in opening Friday trade, with the Tokyo market looking to complete a perfect 5-for-5 week of winning sessions. About 10 minutes into the session, the Nikkei Average was up 0.1%, with the Topix flat, even after the dollar rose above the ¥124 mark overnight. Still, with some reports citing caution ahead of a three-day weekend for Japan, the gains for the big exporters were mixed and modest, with Panasonic Corp. up 0.2%, Canon Inc. and Nissan Motor Co. up 0.6% each, and Hitachi Ltd. up 0.1%. Mitsubishi Chemical Holdings Corp. rose 0.7% as a Nikkei news report quoted the company as saying it may combine its chemical, plastics and rayon units to save money. Among the outperformers, Nintendo Co. rallied 2.2%, and shares of Alps Electric Co. traded 2.4% higher, continuing to make hay over a target-price hike by UBS. On the downside, Toyota Motor Corp. lost 1.2% on the back of recent gains, and Sharp Corp. fell 2.9% after a Nikkei earnings preview tipped the company to swing to a quarterly operating loss for the April-June period. But stock in Unicharm Corp. rose 1.5% on a separate Nikkei item predicting the diaper-maker to post a 3% rise in six-month net profit, even as operating profit would decline.

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Allscripts shares jump on strong earnings forecast

Allscripts Healthcare Solutions Inc. shares rallied in the extended session Thursday after the health-care IT company forecast second-quarter results that topped Wall Street estimates. Allscripts shares rose 10% to $14.99 on moderate volume. The company forecast adjusted second-quarter earnings of 12 cents a share on revenue of $350 million to $353 million. Analysts surveyed by FactSet had estimated 10 cents a share on revenue of $347.4 million.

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Hertz’s stock soars after updating restructuring plan and getting up to date on filings

Hertz Global Holdings Inc.’s stock soared 15% in after-hours trade Thursday, after the car rental company announced a restructuring plan, including additional cost cuts, and said it was now up to date on all of its regulatory filings after restating results. Hertz said it remains committed to its previously-announced $1 billion stock buyback program and the plan to separate its equipment rental business. Hertz said it now expects to cut costs by $300 million by the end of 2015, up from a previous target of $200 million. Chief Executive John Tague said the company was taking actions to “dramatically improve customer satisfaction and reset our capacity.” U.S. fleet growth in 2015 is now expected to be 0.5% to 1.5%, down from a previous projection of 1.5% to 2.5%. The stock had tumbled 19% over the past three months through Thursday’s close, while the S&P 500 has gained 0.9%.

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Greek banks to reopen Monday

Greek banks are set to reopen Monday, but the withdrawal limit will remain at 60 euros per day, The Wall Street Journal reported Thursday. Speaking to Greek broadcaster ERT, Greek Deputy Finance Minister Dimitris Mardas said the government is trying to help people bundle their withdrawals “in case someone doesn’t want to take [60 euros] on Monday and wants to take it on Tuesday, he can withdraw [120 euros] or [180 euros] on Wednesday,” Mardas said, according to WSJ. He added that controls on withdrawals will be lifted gradually, WSJ reported.

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Schlumberger’s stock gains after profit beat, optimistic industry outlook

Schlumberger Ltd.’s stock rose 1.4% in after-hours trade Thursday, after the oil services company beat second-quarter profit expectations and provided a somewhat optimistic industry outlook. Net earnings fell to $1.12 billion, or 88 cents a share, from $1.6 billion, or $1.21 a share, in the same period a year ago. Excluding non-recurring items, earnings per share came in at 88 cents, above the FactSet consensus of 79 cents. Revenue fell 25% to $9.01 billion, with North American revenue declining 39% to $2.36 billion, just shy of the FactSet consensus of $9.02 billion and $2.38 billion, respectively. For 2015, the company now expects exploration and production investment in North America to fall by more than 35%, compared with a previous outlook for a decline of more than 30%. Meanwhile, Chief Executive Paal Kibsgaard said he believes the North American rig count “may now be touching bottom, and that a slow increase in both land drilling and completion activity could occur in the second half of the year.” The stock declined 8.7% over the past three months through Thursday’s close, compared with a 0.9% gain in the S&P 500.

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Google stock skyrockets after strong earnings beat

Shares of Google Inc. skyrocketed in after-hours trade Thursday after the company reported much stronger-than-expected second-quarter earnings. Google continued to improve search and YouTube advertising revenues, reporting net income of $3.9 billion, or $6.51 a share, compared with a year-earlier profit of $3.4 billion, or $4.96 a share. Excluding one-time items, Google reported non-GAAP earnings of $6.99 a share, topping average analyst estimates of $6.70, according to FactSet. Total revenue increased 11% to $17.7 billion from $16 billion a year ago, virtually in-line with Wall Street expectations. Total advertising revenues were up 11% year-over-year, while traffic acquisition costs as a percentage of advertising revenues fell to 21% for the three months ending June 30, from 23% in the same period last year. Shares of Google jumped nearly 7.5% in after-hours trade following the results.

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Mattel shares up after smaller-than-expected quarterly loss

Mattel Inc. on Thursday said it lost $11.4 million, or 3 cents a share, in the second quarter, compared with a gain of 8 cents a share a year ago. Sales reached $988 million, down from $1.06 billion a year ago. Adjusted for one-time items, Mattel reported earnings of 1 cent a share, compared with 5 cents a share a year ago. Analysts polled by FactSet had expected Mattel, the maker of Barbie, Fisher Price toys, and Hot Wheels, to report an adjusted loss of 4 cents a share on sales of $995 million. Worldwide gross sales for the Barbie brand were down 11% year-on-year, but year-to-date retail sales for the doll are up slightly, driven by strong performance in the U.S., the company said. Shares of Mattel rose 4% in after-hours trading after falling 1.7% in the regular session.

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4 Marines dead in Chattanooga ‘act of domestic terrorism’

Four Marines and the lone gunman have died and two other people were wounded in shootings at two military facilities in Chattanooga, Tenn., the Associated Press reported. The five died at the Navy Operational Support Center and Marine Corps Reserve Center, and a separate shooting, apparently from a car, was at the Armed Forces Career Center 7 miles away. The two wounded are a soldier and a police officer, the AP said. Bill Killian, U.S. attorney for gthe Eastern District of Tennessee, called the shootings an “act of domestic terrorism,” the AP said, but an FBI official said the motive was still under investigation. Reuters, citing the FBI, reported that the shooter is believed to have acted alone. There is no other information available yet about the shooter or the victims.

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SeaWorld places employee who reportedly posed as PETA activist on paid leave

SeaWorld said it has placed an employee who reportedly posed as a PETA activist on paid leave while it investigates the matter. PETA said earlier this week that a SeaWorld employee named Paul T. McComb went undercover as a PETA activist for years under the name Thomas Jones. While protesting in 2014, PETA says Jones was arrested but “mysteriously disappeared” and didn’t have either name recorded by police after being taken to the police station. PETA announced Thursday that it has filed a lawsuit against the City of Pasadena and the city police chief for failing to turn over records on Jones.

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Shooting outside Chattanooga military recruitment center

At least two Marines and a police officer were shot outside a military recruitment center in Chattanooga, Tenn., according to media reports. CBS is reporting that the shooter is dead and that the police officer’s injuries were not life-threatening.

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